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How to Build Effective Spreadsheets - Click To Read Article
Spreadsheets have become an important business tool. I first experienced them at university in the mid to late 1980s. I remember thinking, for the first time, that computers could really be useful. Since then some of the things that I have used them have been:
Business reports
Create financial forecast
Run horse race sweeps
Develop a betting program (unsuccessful) and
Calculate average km times in races
Spreadsheets are very powerful and can be used for a variety of purposes. However, in business, they are prone to error and an incorrect formula or a spreadsheet designed poorly can result in poor business decisions being made.
How to manage risk (but don’t stifle innovation) - Click To Read Article
Mining is a capital intensive industry and a lot of money is spent to reduce the risk of making wrong decisions on investments and to reduce the risk of investments not delivering what was promised to shareholders. The same principle applies to any sized business. Every business wants to make the right investment decision and increase the likelihood of the business of delivering what is expected. When evaluating a new business good risk management tools and techniques can assist the decision making process and increase the likelihood of business success.
Are lawyers really worthy that money - Click To Read Article
Business professionals, lawyers, accountants, engineers and others are sometimes viewed as a necessary evil. Each profession has offered a lot of material for jokes and comedians over the years. We have the bottom dwelling lawyers, the charisma by pass, cardigan wearing accountants and the geeky computer dorks to name a few. As well as jokes these professions have something else in common. It is the ability to charge relatively high fees for their services. Do they prtovide the value to justify these fees.
The Secret of Happiness - Click To Read Article
Happiness has become a hot scientific topic over the last two decades. Recently the BBC presented a six part series called The Happiness Formula. This series covered topics such as:
1. Think yourself happy
2. The politics of happiness
3. The power of happiness
4. The happiness recipe
The scientific tests supporting the series suffered, to some extent, because happiness relies upon the subjective self assessment by an individual of their own happiness rather than an objective measure. However, that suggests that happiness is something that can be objectively measured and that may not be so. Perhaps each of us have our own definition of happiness that are all equally valid.
How to Maintain Motivation - Click To Read Article
The basic key to motivation is to enjoy what you are doing. Sounds simple doesn’t it? One of the major issues, however, is that we have so many options with how to spend our time that it is easy to find something that we will enjoy doing. The challenge is that it is very tempting to go for the instant enjoyment at the expense of the task that will lead to long term enjoyment and happiness.
Why create time to be alone - Click To Read Article
But what is the value of spending this alone?
Neither the Dalai Lama nor the massage therapist let me know their thoughts, so I did a bit of research. One of the articles that I discovered was by Keith Renninson. He is a Vietnam vet turned motivational speaker and author. He talked about using the time alone to develop a personal life philosophy and then to check in with ourselves on a regular basis to confirm what is working and what isn’t working.
The truth is out there! How to take advantage of it - Click To Read Article
I find the concept of truth fascinating. Just like one person’s act of terror is another person’s freedom fight, one person’s truth is another person’s fantasy. Rumours are sometimes said with such conviction or spread so far that they become a “truth” no matter what the reality is. Without getting too political, the weapons of mass destruction in Iraq is a classic example of a truth that was fantasy. Can we make our version of the truth and if we can will this help us in life and business?
What is coaching all about anyway? - Click To Read Article
I recently had the opportunity to present to a group of business people. The purpose of the presentation was to outline what Inspiration Coaching does. However, when doing presentations like these, a major component is talking about what coaching is and what benefits it’s provides. I also used the opportunity to launch a new program. The new program is called “Inspired Living”. There will be more about this program later
How to develop a career action plan - Click To Read Article
The focus of this article is on the development of your career action plan. However, the process can also be easily adapted to other areas of your life.
The first and most important step is to make a decision. The decision is whether or not you need a career action plan. Many may not require any action in their career at this stage of their life. For some there are more important areas in their life to which they want to devote their time. The challenge is to make a conscious decision and either accept the current job or put into place actions to achieve your goal job.
How to trust yourself - Click To Read Article
“Trust yourself. Create the kind of self that you will be happy to live with all your life. Make the most of yourself by fanning the tiny, inner sparks of possibility into flames of achievement.” – Golda Meir
Is there a “right” way to live and how do we know when we are successful? Is it based on our personal definition of success or our perception of our local society’s definition? In society there is a definition of success that, in the past, I have grasped to supplement my own limited ideas about what I wanted to do.
Balanced Scorecard: Measuring the Important Stuff - Click To Read Article
The Balanced Scorecard was devised by Robert Kaplan and David Norton in the early nineties. It began with the premise that an exclusive reliance on the financial indicators such as profit and loss was causing the managers and owners of businesses to do the wrong things. Subsequently it was seen as a tool to measure the success of implementing strategies or implementing good ideas. The financial indicators are great at telling us how a business has performed in the past what the Balanced Scorecard does is supplement this with measures that indicate how the business will perform in the future.
Renewing Resolutions - Click To Read Article
A lot of us set goals or resolutions at the start of each year that at some stage will need to be kick started. Also some of us have goals but are unsure what to do to turn them into reality. There are steps you can make that will increase the chance of success.
When is the right time to expand? - Click To Read Article
When is the right time to expandis a question that many small business owners have. There are many issues that need to be addressed to find the answer but one of the big ones is how much will the expansion cost (the initial outlay) and how much cash (operating cash flows) will be generated. A tool to help evaluate whether the operating cash flows generate a return to justify the initial outlay is called Net Present Value (NPV).
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